Q: I am getting divorced and my ex started a business with a partner in 2020.
I joined the business and worked for over a year. When my husband wanted a divorce, he told me not to come back to work. Am I entitled to a portion of the business? He left me destitute with no job.
A: Generally, any asset acquired or enhanced during the marriage, including businesses, is considered marital property. The business you and your husband started or worked for during the marriage is likely considered a marital asset if it was started or significantly grown during the marriage. The value of the business will need to be determined, often requiring a business valuation expert. Your work in the business can be considered a contribution to its value, and you may be entitled to a portion of that value. You may be entitled to temporary financial support (also known as temporary alimony) to sustain you during the divorce process, especially given your current lack of employment. Depending on your financial situation and the length of the marriage, you may be eligible for other forms of alimony after the divorce is finalized. Consult with a family law attorney to help you understand your rights and guide you through valuing and claiming your share of the business.
Mr Eric Klein agrees with this answer
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